Bowler James Brindley’s Post

  I am pleased to present The Corcoran Group snapshot of Brooklyn condo and co-op contracts signed from August 3 to August 9, 2024.    Below are some key highlights from the week:   Last week, 77 contracts were reported signed, down 5% week-over-week but up 26% year-over-year. This represented the largest annual increase in contract activity since January. Both condo and co-op sales had double-digit year-over-year growth. Condo sales were up 23% while co-ops jumped 35%. Five of six price ranges increased versus 2023. The $500K to $750K segment had the largest nominal increase, up nine sales. The area below Prospect Park showed the largest annual increase in sales of any submarket, up 250% (10 contracts) because a new development called Kensington Manor bulk reported seven deals. Last week's most expensive deal was a top floor residence at Love Lane Mews in Brooklyn Heights, offering two terraces.

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The tale of the Non-Sell Sell. 🕯📜 Do you know what everybody wants? What they can't have. Many also want what everybody else wants. If the product to be sold genuinely is attractive, desirable, something that many may want.. ..the non-sell sell could be the right strategy. For instance, a genuinely HOT new development residential property. 🏢 People want to get it - to buy! That's when you take it back. Make it difficult to get. Exclusive, list-only events for certain brokers. Like one of those nightclubs that's difficult to get in to. You're not hard to reach, you're just "not open for sales yet". No brochures, just the site, the construction works, and the sales gallery. It's risky, but when done right, so effective for sales. When the time comes, when everybody wants what they can't have, that's when you open up for sales in the shadow. Suddenly, it's a race for the best units in the building. This is how a Property Advisor, and their team, can sell out your new development residential property. 💜 #PropertyAdvisor #Property #NewDevelopment #NewHomes #London

MANHATTAN SALES MARKET HIGHLIGHTS Co-ops & Condos "Mortgage-related sales exceeded cash sales for the first time in two years." - Sales rebounded year over year for the first time in two years, accelerating the pace for the first time in two years - Listing inventory rose annually for the first time in five quarters, reaching well above the second-quarter decade average - While median sales price slipped nominally year over year, it was the second highest level in two years - Co-op sales surged year over year for the second increase in three quarters - Condo sales increased annually for the first time in eight quarters - New development sales, prices and listing expanded for the first time in a while - Luxury median sales price declined annually for the first time in five quarters - Luxury listing inventory rose year over year for the second time after three quarters of declines - Luxury entry threshold fell year over year for the second time https://lnkd.in/e4WvsTWS

Curious about the current trends in Manhattan condo and co-op sales? Dive into the details of our latest report for July 2024. #RealEstateTrends

I am pleased to present our snapshot of Brooklyn condo and co-op contracts signed from September 28 to October 4, 2024.    Below are some key highlights from the week:   Last week, 83 contracts were reported signed, up 28% versus last week and 24% annually, the ninth consecutive annual increase. Sales reached a 15-week high with 83 contracts. Compared to last year, condo sales fell 13%, but co-op activity more than doubled because of deals in both Brooklyn Heights and South Brooklyn. Sales increased versus 2023 in five of the six price ranges. The $2M to $3M category was the only with an annual decrease. Carroll Gardens/Boerum Hill/Red Hook had the largest nominal year-over-year increase with 10 additional sales. Last week's most expensive contract was a duplex residence at Bergen Brooklyn with more than 850 square feet of outdoor space.

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Sales of luxury homes rose 2.1% year over year in the first quarter. Luxury sales started posting year-over-year increases in January for the first time since August 2021. Sales of non-luxury homes decreased 4.2% year over year. Non-luxury sales haven’t posted an increase since the end of 2021.

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I am pleased to present The Corcoran Group snapshot of Brooklyn condo and co-op contracts signed from April 13 to April 19, 2024.    Below are some key highlights from the week:   80 contracts were signed last week, down 11% year-over-year but up 7% from the previous week. Both condo and co-op contracts were down annually, although co-op sales were down by one deal while condo transactions were down by nine. Sales over $1M increased year-over-year. The $2M to $3M category had the largest nominal increase with six more sales than a year ago. Five contracts signed over $3M last week, tying for 2nd most sales in any week in the last 12 months. South Brooklyn had the largest annual submarket decrease, with nearly half as many deals as a year ago. Last week's most expensive sale was a three-bedroom residence at Quay Tower, featuring views of Manhattan and the New York Harbor.